Narendra Raval
Narendra Raval | |
|---|---|
| Born | 1962 (age 61–62) |
| Nationality | Indian |
| Citizenship | Kenyan |
| Occupation(s) | Industrialist, Entrepreneur, Philanthropist |
| Years active | 1986 - present |
| Known for | Philanthropy, Entrepreneurship |
| Title | Executive Chairman of the Devki Group of Companies |
Narendra Raval (born 1962) is a Kenyan industrialist, entrepreneur and philanthropist of Indian Gujarati origin. Raval serves as the Executive Chairman of the Devki Group of Companies, a conglomerate in East Africa that manufactures steel, aluminum and cement.
He is estimated to have a net worth of US$500 million as of 2015, ranking him as the 46th richest African, and 2nd richest Kenyan based on the 2015 Forbes list of Africa's richest in Kenya.[1]
Background[edit]
Raval was born in India, circa 1962. He became a priest at the temple of the Brahmin Hindu sect at age 11, while still in India. As a teenager, Raval came to Kenya to work as an assistant priest at a temple in Kisumu, western Kenya, on the shores of Lake Victoria. In 1986, he abandoned his priesthood, married a Kenyan woman and with his wife started trading in building materials, starting out in the open marketplace (Gikomba), in Nairobi.[2][3]
Career[edit]
Since 1986, Raval has built an industrial empire, known as the Devki Group of Companies, which manufactures building materials in various locations in Kenya. The group has also established subsidiaries in Uganda, Rwanda and in the Democratic Republic of the Congo. As of April 2021, the Devki Group have an annual manufacturing revenue of over US$650 million, employing over 6,500 people.[3]
Raval's empire within Kenya spans steel, aluminium and cement manufacturing, with interests in aviation. Devki Group also owns a cement factory in the Ugandan border town of Tororo.[4]
Family[edit]
Narendra Raval is married to Neeta Raval, a medical doctor,with whom he has fathered three children two sons and a daughter.[3][5]
Other considerations[edit]
Narendra Raval is a passionate philanthropist, and has publicly pledged to leave 50 percent of his wealth to charity and the remaining 50 percent to his children.[5] His autobiography, entitled "Guru: A Long Walk To Success", was released in 2018.[6] Raval is reported to have donated all proceeds from the book to charity.[3]
In March 2022, the Devki Group divested from Sosian Energy, a Kenyan independent power producer (IPP) which owns a concession contract to build a 35-megawatt geothermal power station in the Menengai Crater. The ownership was sold to Gideon Moi for an undisclosed amount.[7]
See also[edit]
References[edit]
- ^ Mfonobong Nsehe (18 November 2015). "2015 Africa's 50 Richest Net Worth: #46 Narendra Raval: US$400 Million (As of 18 November 2025)". Forbes.com. Retrieved 23 April 2021.
- ^ Devki Group of Companies (10 December 2021). "The $400 Million Man Of Steel Who Said No To Africa's Richest Man". Ruiru, Kenya: Devki Group Kenya. Retrieved 23 April 2021.
- ^ a b c d Jackson Biko (23 April 2021). "Narendra Raval: Billionaire who rides boda boda, has one pair of shoes". Business Daily Africa. Nairobi. Retrieved 23 April 2021.
- ^ Devki Group (23 April 2021). "Company Profile of the Devki Group". Ruiru, Kenya: Devki Group. Retrieved 23 April 2021.
- ^ a b Nairobi News (2 April 2020). "Coronavirus: Devki billionaire Narendra Raval donates Sh100m oxygen". Nairobi News. Retrieved 23 April 2021.
- ^ Diana Ngila (20 September 2018). "Billionaire Narendra Raval's long walk to success". Business Daily Africa. Nairobi. Retrieved 23 April 2021.
- ^ Otiato Guguyu (15 March 2022). "Steel tycoon sells back power firm stake to Gideon Moi". Business Daily Africa. Nairobi, Kenya. Retrieved 15 March 2022.